The US budget deficit for the 7 months of the fiscal year grew by 37.7%


The US budget deficit for the 7 months of the current fiscal year, which began on October 1, 2018, amounted to 530.87 billion dollars. According to the US Treasury, the figure rose 37.7% from a year earlier. The amount of budget revenues in the amount of 2.043 trillion dollars showed a record level, its growth was at the level of 1.8%. Revenue from income taxes of individuals increased by 2.5%. There was also an increase in customs duties almost 2 times, while corporate tax collections showed a decrease of 6.7%. Since the beginning of the fiscal year, costs have increased by 7.6%, reaching $2.574 trillion. The ministry said that the state budget deficit, taking into account the calendar factor, showed less significant growth - at the level of 23%. According to the forecast of the Congressional Budget Office, the US budget deficit in this fiscal year will increase to 4.2% of GDP from 3.9% of GDP in the last fiscal year.

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